{
 "ticker": "XPAV",
 "name": "Corgi U.S. Infrastructure 2x Daily ETF",
 "issuer": "Corgi",
 "desk": "leverage",
 "url": "https://etfiq.com/funds/xpav",
 "html": "https://etfiq.com/funds/xpav",
 "markdown": "https://etfiq.com/funds/xpav.md",
 "as_of": "2026-10-09",
 "verdict": "Three months to Oct 9, 2026: XPAV returned \u221214.1% where its own daily promise gave \u221211.8%, 2.3 points short.",
 "key_facts": [
  {
   "key": "what_pave_did",
   "label": "What PAVE did",
   "value": "\u22125.7%",
   "source": null,
   "as_of": "2026-10-09",
   "sentence": "XPAV, what PAVE did: \u22125.7%, as of Oct 9, 2026."
  },
  {
   "key": "what_2_times_a_day_gives",
   "label": "What 2 times a day gives",
   "value": "\u221211.8%",
   "source": null,
   "as_of": "2026-10-09",
   "sentence": "XPAV, what 2 times a day gives: \u221211.8%, as of Oct 9, 2026."
  },
  {
   "key": "what_the_fund_returned",
   "label": "What the fund returned",
   "value": "\u221214.1%",
   "source": null,
   "as_of": "2026-10-09",
   "sentence": "XPAV, what the fund returned: \u221214.1%, as of Oct 9, 2026."
  },
  {
   "key": "the_fund_itself_cost",
   "label": "The fund itself cost",
   "value": "\u22122.3 pts",
   "source": null,
   "as_of": "2026-10-09",
   "sentence": "XPAV, the fund itself cost: \u22122.3 pts, as of Oct 9, 2026."
  },
  {
   "key": "net_assets",
   "label": "Net assets",
   "value": "$315,914",
   "source": "the issuer\u2019s own daily fund list, as of Oct 9, 2026",
   "as_of": "2026-10-09",
   "sentence": "XPAV, net assets: $315,914 (the issuer\u2019s own daily fund list, as of Oct 9, 2026)."
  },
  {
   "key": "expense_ratio",
   "label": "Expense ratio",
   "value": "0.45%",
   "source": "485BPOS XBRL, May 28, 2026",
   "as_of": "2026-10-09",
   "sentence": "XPAV, expense ratio: 0.45% (485BPOS XBRL, May 28, 2026)."
  }
 ],
 "fields": [
  {
   "key": "sets_out_to_return",
   "label": "Sets out to return",
   "value": "+2 times the daily move of PAVE, reset daily",
   "source": null
  },
  {
   "key": "multiple_a_holder_actually_got_over_the_window",
   "label": "Multiple a holder actually got over the window",
   "value": "+2.47 times, against +2 stated",
   "source": "ETFIQ"
  },
  {
   "key": "underlying",
   "label": "Underlying",
   "value": "PAVE",
   "source": null
  },
  {
   "key": "segment",
   "label": "Segment",
   "value": "sector or country, theme",
   "source": null
  },
  {
   "key": "net_assets",
   "label": "Net assets",
   "value": "$315,914",
   "source": "the issuer\u2019s own daily fund list, as of Oct 9, 2026"
  },
  {
   "key": "expense_ratio",
   "label": "Expense ratio",
   "value": "0.45%",
   "source": "485BPOS XBRL, May 28, 2026"
  },
  {
   "key": "first_traded",
   "label": "First traded",
   "value": "Jun 3, 2026",
   "source": null
  },
  {
   "key": "underlying_volatility_over_the_window",
   "label": "Underlying volatility over the window",
   "value": "17% annualized",
   "source": "ETFIQ"
  }
 ],
 "periods": [
  {
   "window": "1 month",
   "Fund": "\u22123.9%",
   "PAVE": "\u22121.4%",
   "+2x the move": "\u22122.7%",
   "Difference": "\u22121.1 pts",
   "PAVE moved about, annualized": "16%"
  },
  {
   "window": "3 months",
   "Fund": "\u221214.1%",
   "PAVE": "\u22125.7%",
   "+2x the move": "\u221211.4%",
   "Difference": "\u22122.7 pts",
   "PAVE moved about, annualized": "17%"
  },
  {
   "window": "Since launch",
   "Fund": "\u221217.1%",
   "PAVE": "\u22126.5%",
   "+2x the move": "\u221213.1%",
   "Difference": "\u22124.0 pts",
   "PAVE moved about, annualized": "20%"
  }
 ],
 "questions": [
  {
   "q": "Did XPAV return +2 times PAVE?",
   "a": "Over the three months to Oct 9, 2026, PAVE moved \u22125.7% and XPAV returned \u221214.1%. 2 times that move is \u221211.4%, so the fund came out 2.7 points short of it. Against its own daily promise, 2 times each day's move compounded, it was 2.3 points short."
  },
  {
   "q": "Why does XPAV not return +2 times over a year?",
   "a": "Because it resets daily. XPAV aims at +2 times each day's move, and daily results compound. Over a run where the underlying falls and comes back, compounding a levered daily return leaves a holder behind what +2 times the period move would suggest; over a steady run in one direction it can leave them ahead. The longer the holding, and the more the underlying moves about, the further apart the two figures get."
  }
 ],
 "generated": "2026-10-10",
 "license": "https://etfiq.com/license/",
 "license_text": "Figures ETFIQ computes are free to use with attribution: ETFIQ (etfiq.com). Issuer data stays under its owner's terms.",
 "citation": "ETFIQ, XPAV, leveraged ETFs, data as of Oct 9, 2026. https://etfiq.com/funds/xpav"
}